Running through a courtyard behind Beijing's Forbidden City.
Yepoka Yeebo / Business Insider
On Friday, China's National Bureau of Statistics (NBS) reported that the country's official manufacturing purchasing managers index unexpectedly climbed to 50.8 in May from 50.6 in April.

Economists were expecting the number to fall to 50.0.

Moments ago, we learned that the unofficial PMI report, which is compiled privately by HSBC and Markit, fell to 49.2 from 50.4 a month ago.

It's worth noting that the unofficial report has greater exposure to small and medium-sized enterprises, which may be having a tougher time than its larger competitors.